An unfortunate fact is that there are many borrowers, who get stuck in a debt cycle for various reasons. The most common one is that people do not manage their finances responsibly and prefer to overlook the mound of debt that keeps growing. They borrow money without realizing the harsh consequences of an unpaid debt. Such a debt can lead to bankruptcy, which brings you back to square one and you are required to rebuild your financial profile all over again. Hence, it is important that you deal with your debts smartly to avoid being in such a tricky situation. • Do not overlook when you sense you are getting burdened with the debts. Read the signal and act while there is still time to take control of your finances. Rework your budget and cut down spending on non-essential things. Channelize the saved money towards repaying expensive debts first. Prioritize savings by changing your lifestyle. Small changes can help a lot in managing debts. • Look around and find items